Industrial output decreased by 5.9 per cent year-on-year in December

According to Statistics Finland, output of total industries adjusted for working days was 5.9 per cent lower in December 2009 than twelve months earlier. However, seasonally adjusted output was 0.9 per cent higher than in November. Output has now grown month-on-month in three consecutive months. Last year, industrial output was 20.9 per cent lower than in 2008 and output was at the level of 2000. The drop was the worst since Finland became an independent State.

Compared to twelve months back, output continued to decline in several main industries. Output fell most in metal industry exclusive of electrical and electronic products, by 15.5 per cent. Output in the electrical and electronics industry decreased by 11.4 per cent. In the food industry output was a good one per cent lower than a year earlier. The highest growth, 12.6 per cent, was recorded for the forest industry. For the first time in over two years, forest industry output grew year-on-year. The production of electricity and heat, and chemical industry output grew from twelve months back, too.

Working day adjusted change in industrial output by industry 12/2008-12/2009, %, TOL 2008

*Metal industry excl. manufacture of electrical and electronic products

Seasonally adjusted change in industrial output (BCDE) from previous month, %, TOL 2008

Working day adjusted change in industrial output (BCDE) from corresponding month of previous year, %, TOL 2008

Capacity utilisation rate in manufacturing was 64 per cent in December. One year earlier the capacity utilisation rate had been at an almost equivalent level. In the forest industry, capacity utilisation rate was 67.4 per cent, or 7.2 percentage points higher than in December 2008.

Year-on-year change in industrial output (BCDE) 2001-2009, %, TOL 2008

Estimation

In many months of the year the volume index of industrial output uses estimation in industry 26-27 Electrical and electronics industry. In this industry Statistics Finland estimates data 8 times a year. Not all of the data on this industry are at Statistics Finland's disposal at the time of publication. As the weight of the industry (26-27) is nearly 20 per cent in total industries, using estimation may influence the point figures and change percentages calculated for the volume index of industrial output even if previous months' data on other industries do not become revised.

Revised data for December will be published at 9 am on 10 March 2010 in connection with the industrial output data for January. Because of the method used, seasonally adjusted figures for previous months may change even if the original figures do not become revised. The seasonally adjusted figures will also be adjusted for working days.

Source: Volume Index of Industrial Output 2009, December. Statistics Finland

Inquiries: Mr Kari Rautio +358 9 1734 2479, Mr Aki Savolainen +358 9 1734 2703, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Last updated 10.2.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2009. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2009/12/ttvi_2009_12_2010-02-10_tie_001_en.html